National Bank Financial Issues Positive Forecast for Imperial Oil (TSE:IMO) Stock Price

Key Points

• National Bank Financial raised Imperial Oil’s price target from C$207 to C$213 while maintaining a “sector perform” rating, implying 12.59% potential upside.
• Analyst sentiment remains cautious overall: MarketBeat reports a consensus “Reduce” rating, with five Holds and four Sells and an average target of C$150.82.
• Imperial Oil shares traded at C$189.18, near their 52-week high of C$192.40. The company recently reported C$4.52 in quarterly EPS on C$15.98 billion in revenue.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price objective boosted by research analysts at National Bank Financial from C$207.00 to C$213.00 in a research report issued on Tuesday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 12.59% from the company's current price.

Other equities analysts have also issued research reports about the stock. TD raised their price objective on shares of Imperial Oil from C$150.00 to C$151.00 and gave the company a "sell" rating in a research report on Wednesday, August 5th. UBS Group boosted their target price on shares of Imperial Oil from C$195.00 to C$205.00 in a report on Monday, September 14th. Raymond James Financial boosted their target price on shares of Imperial Oil from C$130.00 to C$140.00 and gave the stock an "underperform" rating in a report on Wednesday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Imperial Oil from C$149.00 to C$158.00 in a research note on Tuesday, July 14th. Finally, Desjardins set a C$160.00 target price on shares of Imperial Oil and gave the company a "hold" rating in a research note on Friday, July 17th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of C$150.82.

Imperial Oil Price Performance

TSE:IMO traded down C$1.65 during mid-day trading on Tuesday, reaching C$189.18. 646,621 shares of the stock were exchanged, compared to its average volume of 827,362. The business has a fifty day moving average price of C$181.29 and a 200 day moving average price of C$176.08. The firm has a market capitalization of C$91.49 billion, a PE ratio of 22.10, a PEG ratio of 0.21 and a beta of 0.62. Imperial Oil has a 1-year low of C$114.75 and a 1-year high of C$192.40. The company has a current ratio of 1.38, a quick ratio of 0.98 and a debt-to-equity ratio of 17.11.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its quarterly earnings results on Friday, July 31st. The company reported C$4.52 EPS for the quarter. Imperial Oil had a net margin of 7.81% and a return on equity of 18.76%. The firm had revenue of C$15.98 billion for the quarter. Research analysts expect that Imperial Oil will post 8.62 earnings per share for the current fiscal year.

About Imperial Oil

Imperial Oil is one of Canada's largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.

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